Oman: Prepared Binders Market 2024

Prepared Binders Market Size in Oman

In 2021, the Omani prepared binders market decreased by -23.9% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption faced a deep slump. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Prepared Binders Exports

Exports from Oman

Prepared binders exports from Oman skyrocketed to X tons in 2021, jumping by 46% compared with the previous year's figure. In general, exports, however, showed a abrupt decline. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, prepared binders exports surged to $X in 2021. Over the period under review, exports, however, faced a abrupt contraction. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for prepared binders exports from Oman, with a 87% share of total exports. Moreover, prepared binders exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), tenfold.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia amounted to -14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+22.4% per year) and Egypt (-12.5% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from Oman, comprising 84% of total exports. The second position in the ranking was taken by Egypt ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia totaled -13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-30.9% per year) and the United Arab Emirates (-10.3% per year).

Export Prices by Country

In 2021, the average prepared binders export price amounted to $X per ton, rising by 18% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 256% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+0.6%), while the prices for the other major destinations experienced a decline.

Prepared Binders Imports

Imports into Oman

In 2021, purchases abroad of prepared binders for foundry moulds or cores decreased by -25.4% to X tons, falling for the third consecutive year after two years of growth. In general, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 110% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, prepared binders imports dropped sharply to $X in 2021. Overall, imports recorded a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 173% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest prepared binders supplier to Oman, with a 33% share of total imports. Moreover, prepared binders imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+23.9% per year) and the United Arab Emirates (-16.4% per year).

In value terms, the largest prepared binders suppliers to Oman were the United Arab Emirates ($X), France ($X) and the Netherlands ($X), together comprising 43% of total imports. These countries were followed by Taiwan (Chinese), Germany, Belgium, China, India, South Africa and Norway, which together accounted for a further 47%.

China, with a CAGR of +32.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average prepared binders import price stood at $X per ton in 2021, increasing by 4.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 48% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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